Ooredoo Maldives to go public on April 30

Telecom giant Ooredoo Maldives announced that it will officially go public on April 30 and inaugurated the venture late Tuesday.

The Maldivian branch of the Qatar-based Ooredoo Group, which launched services in the archipelago 11 years ago, is to sell total 59.1 million company shares at a rate of MVR 30, which would earn the company a staggering MVR 1.7 billion. However, Ooredoo Maldives’ initial public offering is 22 million shares.

Ooredoo Maldives will commence stock sales from April 30 to May 28. An individual can buy up to 50 shares, which is total MVR 1,500 at a rate of MVR 30.